Klondex Mines Ltd to Post FY2019 Earnings of $0.10 Per Share, Clarus Securities Forecasts (KLDX)

Klondex Mines Ltd (NYSEAMERICAN:KLDX) – Clarus Securities cut their FY2019 earnings per share (EPS) estimates for shares of Klondex Mines in a research note issued to investors on Wednesday. Clarus Securities analyst J. Spratt now forecasts that the basic materials company will post earnings per share of $0.10 for the year, down from their previous estimate of $0.34. Clarus Securities also issued estimates for Klondex Mines’ FY2020 earnings at $0.26 EPS.

KLDX has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $6.25 price target on shares of Klondex Mines in a research report on Friday, October 20th. BidaskClub lowered Klondex Mines from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. TheStreet lowered Klondex Mines from a “c” rating to a “d+” rating in a research report on Friday, November 10th. Zacks Investment Research lowered Klondex Mines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 20th. Finally, Roth Capital set a $4.00 price target on Klondex Mines and gave the company a “buy” rating in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.67.

Shares of Klondex Mines (NYSEAMERICAN KLDX) traded down $0.10 during mid-day trading on Friday, reaching $1.55. The company had a trading volume of 2,500,160 shares, compared to its average volume of 1,511,447. Klondex Mines has a fifty-two week low of $1.54 and a fifty-two week high of $5.91. The company has a market capitalization of $407.71, a PE ratio of -25.83 and a beta of -0.16.

Klondex Mines (NYSEAMERICAN:KLDX) last announced its earnings results on Thursday, November 9th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). The company had revenue of $48.90 million during the quarter, compared to analyst estimates of $64.08 million. The firm’s revenue was down 12.1% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC boosted its position in Klondex Mines by 164.8% during the 3rd quarter. Virtu Financial LLC now owns 42,504 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 26,451 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Klondex Mines during the 2nd quarter worth about $136,000. Highstreet Asset Management Inc. boosted its position in Klondex Mines by 159.6% during the 4th quarter. Highstreet Asset Management Inc. now owns 58,553 shares of the basic materials company’s stock worth $152,000 after acquiring an additional 35,999 shares during the period. Legal & General Group Plc acquired a new stake in Klondex Mines during the 2nd quarter worth about $157,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Klondex Mines during the 2nd quarter worth about $162,000.

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About Klondex Mines

Klondex Mines Ltd is a Canada-based gold and silver mining company. The Company focuses on exploration, development and production of over two gold and silver projects in north central Nevada, being the Fire Creek mine located in Lander County, Nevada, the Midas mine and ore milling facility located in Nevada.

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